Sisi calls for stronger Egypt-Spain business ties, proposes investment summit in Cairo

President Abdel Fattah El-Sisi called for expanding economic cooperation between Egypt and Spain, emphasising the role of private sector partnerships in driving investment and trade.

During a roundtable with Spanish business leaders in Madrid on Wednesday, President Sisi highlighted the Egyptian-Spanish Business Council as a key platform for strengthening ties. He urged the council to intensify its activities in line with the newly established strategic partnership between the two nations. To reinforce this, he proposed holding the next council meeting in Cairo in 2025, coinciding with an anticipated visit by Spain’s King. The event would serve as a springboard for an Egyptian-Spanish investment conference, further cementing economic collaboration.

President Sisi praised Spanish companies’ contributions to Egypt’s infrastructure and transport sectors, calling for deeper engagement, particularly in industrial localisation. He encouraged greater use of local components in production, enhancing sustainability and competitiveness.

“The active participation of leading Spanish companies in Egypt’s investment landscape, particularly in infrastructure and transportation, is a significant step forward that must be further expanded,” the Egyptian president said.

He added, “One of our top priorities is advancing industrial localisation by increasing the use of local components across various sectors, including those where Spanish companies are already operating. We look forward to your support in achieving this goal.”

He also invited Spanish investors to explore major opportunities in the Suez Canal Economic Zone (SCZone), particularly in green hydrogen and renewable energy, positioning Egypt as a key supplier for the European market. Additionally, he emphasised Egypt’s strategic location, modern infrastructure, and strong trade agreements, which make it a regional hub for manufacturing and exports.

“As you know, the Egyptian government is making every effort to attract more foreign direct investment, with Spanish investments being a top priority,” President Sisi said. “…, the government provides a wide range of investment incentives, has implemented legislative reforms to improve the business climate, and offers access to one of the largest markets in the region. Egypt also serves as a gateway to Arab and African markets, backed by free trade agreements that facilitate exports and trade flows.”

Reaffirming Egypt’s commitment to fostering foreign investment, President Sisi welcomed to “to explore various forms of economic partnerships, particularly in manufacturing, small and medium-sized enterprises (SMEs), energy, water desalination, agriculture, aquaculture, fertilisers, textiles, shipbuilding, telecommunications, and tourism.”

“…, let me reaffirm Egypt’s full openness to cooperation with Spanish investors and industrialists, regardless of the framework or structure of collaboration,” he concluded.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser